Abdul Rasak M.M. Vs Manager, Ernakulam District Co-Operative Bank Ltd.

¶1

IN THE HIGH COURT OF KERALA AT ERNAKULAM

¶2

PRESENT:

¶3

THE HONOURABLE MR.JUSTICE A.M.SHAFFIQUE

¶4

FRIDAY, THE 3RD DAY OF JUNE 2016/13TH JYAISHTA, 1938H

¶5

WP(C).No. 10293 of 2015 (J)

¶6

PETITIONER:

¶7

ABDUL RASAK M.M., S/O.METHIAN, AGED 40, THEKAYIL HOUSE, MARAMPILLY P.O, KAIPPOORIKKARA ROAD, ERNAKULAM DISTRICT.

¶8

BY ADV. SRI.K.S.RAJEEV (ALUVA)

¶9

RESPONDENT:

¶10

THE MANAGER, THE ERNAKULAM DISTRICT CO-OPERATIVE BANK LTD., PERUMBAVOOR EVENING BRANCH - 683542.

¶11

BY SMT.I.SHEELA DEVI, SC

¶12

THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 03-06-2016, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

¶13

mbr/

¶14

WP(C).No. 10293 of 2015 (J)

¶15

APPENDIX

¶16

PETITIONER(S)' EXHIBITS:

¶17

----------------------EXHIBIT P1 : TRUE COPY OF NOTICE ISSUED BY THE RESPONDENT DATED 13-3-15. RESPONDENT(S)' EXHIBITS: NIL ----------------------//TRUE COPY// P.S. TO JUDGE mbr/

¶18

**A.M.SHAFFIQUE, J * * * * * * * * * * * *** W.P.C.No.10293 of 2015

¶19

Dated this the 3^rd day of June 2016

¶20

J U D G M E N T

¶21

Petitioner has approached this Court being faced with the proceedings initiated by the respondent Bank under the SARFAESI Act.

¶22

Petitioner had taken a loan for `.3,99,572/-. The petitioner could not repay the monthly instalments in time on account of certain financial difficulties. In the meantime, proceedings had been taken by the respondent Bank under the SARFAESI Act.

¶23

Learned counsel for the petitioner submits that the petitioner is ready and willing to pay the outstanding dues in instalments and will also pay the regular instalments, if some time is granted.

¶24

Having regard to the fact that the petitioner had expressed the willingness to repay the amount in instalments, I am of the view that some indulgence can be shown to the petitioner.

¶25

W.P.C.No.10293/2015

¶26

2

¶27

Accordingly, this writ petition is disposed of as under:

¶28

(i) The petitioner shall pay the overdue amount with accrued interest in five equal monthly instalments starting from 4^th July 2016.

¶29

(ii) In addition to payment of the aforesaid amount, petitioner shall also remit the monthly instalments as per the agreed terms.

¶30

(iii) If there is default in payment of any of the aforesaid amounts, it shall be open for the respondent Bank to take such steps, in accordance with law.

¶31

(sd/-)

¶32

(A.M.SHAFFIQUE, JUDGE)

¶33

jsr

Abdul Rasak M.M. v. Manager, Ernakulam District Co-Operative Bank Ltd.

Case brief

What is this about?

What did the court decide?

Abdul Rasak M.M. v. Manager, Ernakulam District Co-Operative Bank Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

Ratnamma D Vs Sreemandiram Sasikumar

Joseph Francis Xavier Vs the Executive Engineer, Kseb

Mujeeb Rahman Vs the Kerala State Electricity Board Ltd.

Joy K.O. Vs the State of Kerala

Firoze P.V Vs the Regional Transport Officer

Selva Livingston Vs the Manager